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Weak Yen creates boom in orders at Asian shipyards

In March, Japanese shipyards received 49 export orders, compared to just five orders in February, and the difference in price compared to Chinese shipyards is now as low as 10-15 percent. Shipowners are also reaping major currency gains in 2013.

Photo: Hempel

Japanese shipyards, like the major shipping companies, look set to gain significant financial benefits while alos increasing their competitiveness following Japan's break from more than 20 years of fierce currency policy. The dramatic decline of the Japanese Yen in recent months has sent the Japanese yards back into competition with Korean and Chinese shipyards.

In March, Japanese shipyards received 49 export orders, compared to just five orders in February, and the difference in price compared to Chinese shipyards is now as low as 10-15 percent, according to new numbers from Japan Ship Exporters Association, writes Lloyd's List.

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